remember 2009?

Janti's comment to me (Post #: 10523879)
"Jan, and we had the (first) final capital raising back in 2009 ... (29/9/09 ann.)"

I think it's worth looking back once in a while to review the hurdles and achievements in this roller coaster ride called Lynas.

Of course that ann wasn't the first time full funding for the LAMP was announced. The first arrangement was pulled by the bankers during the GFC, and work halted at an early stage @ LAMP in early 2009.

The raising Janti refers to is the (second) final capital raising! It didn't happen, rejected by the FIRB.
A glance at its content is illuminating.
- Shares issued to China Nonferrous Metal Mining to give them a 51% stake in the company.
- Issued at a 50% discount to the last close (90c!!).
- Phase 1 only of course.
(Compare to the issue just completed!)

Makes the current situation look pretty good.
Less than 5 years on:
- That deal fell over and a replacement one put in place.
- A huge project AND expansion completed.
- Shareholders still in control of the company.
- All the Malaysian political BS and delays behind us
- All the LAMP technical & production issues appear to be sorted, or nearly so.
- RE prices above what they were then
- Only debt is the cost of Ph2 expansion
- Dilution over that time 3x (as opposed to 2.5x under the Chinese deal).

Makes you wonder why the SP was 90c then and 14c now, doesn't it!